Technical：
EnQuest awarded Petrofac a North Sea contract extension
Petrofac, a leading service provider in the global energy industry, has extended its term for supporting the Kittiwake platform to 20 years after signing an extension contract with EnQuest.
Under the terms of the three-year contract renewal, Petrofac will remain the responsible holder of the Kittiwake platform in the central North Sea. It has held the role of EnQuest since 2014, and is the former owner of the asset since 2003.
Nick Shorten, Chief Operating Officer of the Petrofac Asset Solutions Business, said, " Over the past eight years, we have established productive long-term partnerships with EnQuest. The renewal of this contract is a great testament to this partnership and the high performance of our team and a strong understanding of the assets.
"We have been working in the Kittiwake field for nearly 20 years, and we are pleased to continue to work on its good safety record to improve its operating performance and further extend the service life of the assets.”
News：
The UK energy bill will exceed expectations
Energy bills will soar higher than expected as Russia further cuts its gas supplies to Europe, sending gas and energy prices soaring this winter and next year, UK consultancy BFY Group said on Wednesday.
Earlier this week, Russia said that gas supply through Nord Stream, a major pipeline connecting Russia and Germany, would be cut to 20 percent of the pipeline's capacity, just days after Gazprom restarted the pipeline at 40 percent of its capacity after routine maintenance. The Russian explanation for the lower flow of gas sent to Europe was that another turbine at the compressor station was sent for repair, while the one that returned in Canada had not been installed.
Gemma Berwick, BFY senior adviser, raised BFY's price cap forecast for the coming winter due to recent cuts in natural gas supplies in Russia.
The UK has introduced the so-called "energy price cap" (Energy Price Cap) to protect households from excessive bills by limiting the price increases that suppliers pass on to households. The energy price ceiling rose by more than 50% in April, and the number of UK households under high fuel pressure has doubled overnight. But the UK's cost-of-living crisis is not at its worst, and energy bills could soar by another 42 per cent in October, when energy regulators will raise the energy price cap again. After Russia further cut supply to Europe, BFY's latest forecast is now $4,120 (£3,420) in the fourth quarter of 2022 and $4,640 (£3,850) in the first quarter of 2023, based on average consumption."In the usual usage pattern, this means that the January bill alone will exceed £500 ($602). Most families need further support to keep them from being classified as fuel-poor, " said Berwick of the BFY Group."This winter, most people will not be able to pay their bills. The average family where both parents work will fall into fuel poverty, " Berwick told the Daily Telegraph.
Service：
The ADNOC Drilling Company has confirmed a $2 billion contract for the major Ghasha natural gas project
ADNOC drilling company PJSC confirmed $2 billion in contracts on Wednesday to support the world's largest offshore acidic natural gas development, ADNOC's large Ghasha offshore natural gas project, located in Abu Dhabi offshore.
The contracts are worth $1.3 billion for Integrated Drilling Services (IDS) and $700 million for providing four island drilling units. Each contract has a fixed term of 10 years.
Production from the Ghasha project is expected to begin around 2025 and will exceed 1.5 billion standard cubic feet per day by 2020. ADNOC aims to meet growing domestic and international gas demand and make the UAE gas self-sufficient.
ADNOC Drilling, ADNOC's only drilling services provider, said that up to 46 Wells can be drilled on an artificial island, greatly reducing the environmental impact of the project.
Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling, said: " This world-class award demonstrates ADNOC Drilling's position as the largest regional drilling company and a regional leader in oilfield services in the Middle East. This will ensure that we continue to provide strong and sustained growth, while further driving shareholder value.
As a key driver of ADNOC's capacity expansion targets, our position provides investors with solid opportunities for sustained and predictable revenue growth, coupled with market-leading cash flow and margins, generating a progressive dividend policy.
This $1.3 billion IDS contract also highlights the growing impact of providing our customers with a start-to-well innovation strategy and consolidates our differentiated position as a world leader in drilling and completion services."The ADNOC Drilling Company plans to double deliveries of IDS Wells by 2022 and double the number of Wells with IDS capacity by 2024, which will support a doubling of OFS revenue by 2025.
Equipment：
The Undersea Integration Alliance signs an EPCI contract
Subsea Integration Alliance, composed of OneSubsea and Subsea 7, has been contracted by Kosmos Energy Gulf of Mexico Operations to undertake the engineering, procurement, construction and installation (EPCI) of the Odd Job oil field in the Gulf of Mexico.
Under the EPCI contract, OneSubsea (Schlumberger's undersea Technology, Production and Processing systems division) will provide underwater multiphase booster systems, upper equipment, and a 16-mile integrated power and control umbilical cord. Project management, engineering, assembly and testing will be conducted at the OneSubsea facilities in Bergen and Horsø y, Norway, while transport to the site and installation will be conducted by Subsea 7.
Don Sweet, head of Subsea Production Systems, said: " We are pleased to work with Kosmos Energy to jointly develop the Odd Job field."The system will be connected to existing facilities to achieve significant cost and energy savings, as well as reducing carbon dioxide emissions, while improving the ultimate recovery rate of Kosmos energy."An entity managed by Ridgewood Energy Corporation is also the owner of the Odd Job space.
OneSubsea has a proven track record in innovation, including world-leading experience in underwater multiphase pressurization systems. Since 1994, the OneSubsea has delivered more than 40 projects, including about 115 underwater booster pumps. Studies have shown that the application of underwater multiphase pressurization technology can increase the oil recovery rate by more than 20% to 200%, in addition to greatly increasing the total oil recovery rate by removing the reservoir back pressure.
"This contract recognizes Subsea 7's leading collaboration model with OneSubsea in seabed processing technology, which combines Subsea 7's extensive track record for the delivery of large EPCI projects. Olivier Blaringhem, CEO of the Undersea Integration Alliance, added: " Our alliance will improve the economic benefits of Kosmos's oil fields, while reducing the complexity, cost and risk to achieve production targets safely, on time and within cost targets.”
